Preston North End in ‘active negotiations’ over sale of the club

Preston North End has confirmed it is in “active negotiations” with prospective buyers, making it the latest club in the North West to be up for sale.

Chairman Ian Penrose set out the position in a statement on the club’s website at the weekend, before the team’s opening Championship match against local rivals Bolton Wanderers.

Penrose said: “In the autumn of 2025, the club stated that it had begun the process of actively searching for a new owner of PNE, a process that we considered could take up to two years. In January 2026, I updated that we had received a number of initial tentative approaches, and since then we have worked diligently to progress matters.

“I can confirm that we are in negotiations with parties who have made offers to buy PNE on terms that are acceptable to the Hemmings family. Whilst we would like to be able to provide a running commentary and more details for our fans, for legal and regulatory reasons, we are prevented from doing so.”

A lengthy process

He said a sale involved legal, financial and commercial due diligence, and that any buyer must meet regulatory requirements, including submitting a funded two-year business plan. He pointed to events at Derby County that week as evidence that the process is not straightforward.

“The club and the potential new owners are very conscious of the need to conclude matters promptly in order to provide certainty for many reasons,” he said. “Internally, we are keeping a clear divide between our football operations and the transaction, in order to minimise distraction.”

Record summer spending

Penrose also told supporters that investment in the club would continue while the sale goes through.

“We are all aware of the need to continue to invest to take PNE forward. This summer, we have already committed to transfer fees of around £10 million, which is far in excess of our previous summer record spending,” he said.

The club signed Alfie Devine for a record fee that Penrose said was nearly three times the most PNE had ever paid. It has also paid combined fees of more than £4 million for Léo Leroy and Harry Clarke, with Leroy’s fee alone above the previous club record set before the Devine deal.

Delano Burgzorg and Jusef Erabi have joined on loan deals that include an option to buy, while Lee Nicholls signed earlier in the window. Penrose said the club had spent several transfer windows building a squad of players it owns and who offer long-term value.

More than £1.5 million has been invested in a new pitch at Deepdale, intended to help the team play more consistently through the winter and reduce injuries. Preston host Wolves there on 22 August and Everton in the Carabao Cup on 26 August.

Fans and season tickets

Penrose said season ticket sales had already produced record revenue, and that tickets for the Everton match had deliberately been priced between £5 and £20 so that more fans could attend.

He acknowledged the financial gap in the Championship created by parachute payments to clubs relegated from the Premier League, but said: “we believe that we are in good shape to be competitive this season.”

He added that the Hemmings family had backed the board and manager with record investment over the summer despite the sale talks, and “remain committed to the club that they grew up supporting.”

“Selling a football club is not an easy and quick process, and there can be no certainty that a sale will be concluded,” Penrose said. “However, in my current role and as a lifelong fan, I will continue to work with our owners, advisers, and the Board to secure the best outcome for our proud Football Club.”

Preston lost their opening Championship match 2-1 at Bolton’s Toughsheet Stadium.